Tuesday, April 16, 2013

-15pt Gap+ early test of highs @ 1st Ti + test of Lows @ 2ndTi = Late Rally


Today we had -15pt  Gap in the globex session that saw momentum wane by the 1st Ti where we printed block bars prior to moving lower to test the gap area till the 2nd Ti, which held for another rally back to the highs.
Recap Notes:
Trade Selection -  Poor Trading,  Ok Entries, Poor Exits
Sequence 1-7 -Basically my timing is still waay off regarding exits. my entries are a bit better. I need to allow more room for the signals to play out and take small profits when given in order to get my rythm back.  My focus is pretty good and im ok with getting more on but im still over trading due to not allowing sequences to play out. Most the losses are Short side trade breaking above block bars indicating a very Bullish campaign. keeping a long bias may be the cue.

ADJUSTMENTS & OBSERVATIONS:
Take small profits when given!! Im expecting larger moves due the wider ranges of lately. However I need to STOP looking for home runs and take the singles to get into rythme.

Be sure to WAIT for Qualified Sequences ONLY!!